Domestic futures markets recorded a sharp decline in gold and silver prices on Friday, May 15. At the time of writing, gold futures for June 5, 2026 expiry on the Multi Commodity Exchange of India (MCX) were trading lower by around ₹1,425.
Gold and silver prices in India declined sharply on Friday amid volatility in global markets and changing investor strategies. Gold weakened in the domestic futures market, while silver registered a steeper fall. Market experts attributed the decline to pressure from profit-booking, a ber US dollar, changes in US bond yields, and shifts in investor positioning in precious metals.
Gold futures for June 5, 2026 expiry on MCX opened at around ₹1,60,790 per 10 grams against the previous close of ₹1,61,978 per 10 grams. During morning trade, the contract declined by around ₹1,425, or 0.88%, to trade near ₹1,60,553 per 10 grams. The contract also touched an intraday high of ₹1,60,992 per 10 grams in early trade.
Silver futures for July 2026 expiry on MCX declined by more than 3% during the session. The contract fell by around ₹8,790 per kilogram during trade, marking one of the larger recent declines in silver prices. Analysts said silver prices remained under pressure due to softer global demand and profit-booking activity.
Retail silver prices also softened across major Indian cities. In Delhi, Mumbai and Kolkata, silver prices were around ₹2,900 for 10 grams, while 100 grams of silver was priced at around ₹29,000. In Chennai, silver prices remained relatively higher at around ₹3,050 per 10 grams.
Gold prices across major cities were as follows:
Delhi: 24-carat gold at ₹1,60,240 per 10 grams, 22-carat gold at ₹1,46,900 per 10 grams and 18-carat gold at ₹1,20,220 per 10 grams.
Mumbai: 24-carat gold at ₹1,60,090 per 10 grams, 22-carat gold at ₹1,46,750 per 10 grams and 18-carat gold at ₹1,20,070 per 10 grams.
Chennai: 24-carat gold at ₹1,63,090 per 10 grams, 22-carat gold at ₹1,49,500 per 10 grams and 18-carat gold at ₹1,24,700 per 10 grams.
Kolkata: 24-carat gold at ₹1,60,090 per 10 grams, 22-carat gold at ₹1,46,750 per 10 grams and 18-carat gold at ₹1,20,070 per 10 grams.
Ahmedabad: 24-carat gold at ₹1,60,140 per 10 grams, 22-carat gold at ₹1,46,800 per 10 grams and 18-carat gold at ₹1,20,120 per 10 grams.
Lucknow: 24-carat gold at ₹1,60,240 per 10 grams, 22-carat gold at ₹1,46,900 per 10 grams and 18-carat gold at ₹1,20,220 per 10 grams.
Patna: 24-carat gold at ₹1,60,140 per 10 grams, 22-carat gold at ₹1,46,800 per 10 grams and 18-carat gold at ₹1,20,120 per 10 grams.
Hyderabad: 24-carat gold at ₹1,60,090 per 10 grams, 22-carat gold at ₹1,46,750 per 10 grams and 18-carat gold at ₹1,20,070 per 10 grams.
Market experts said precious metal prices remained under pressure due to the strengthening US dollar, movements in US bond yields and investor profit-booking in global markets.
